Home buyers who don’t gather more than one quote when shopping for a mortgage may be losing out on some savings to their monthly payments.Lenders can offer a wide dispersion of rates, up to 50 basis points or 0.5 percent, after controlling for factors like the borrower’s down payment and credit score. That could be the difference between a 3.5 percent versus a 4 percent mortgage rate, according to a recent study by two economists at the Consu
The U.S. homeownership rate was 63.6 percent in the first quarter of 2017, barely budging from last quarter’s reading of 63.7 percent, the U.S. Census Bureau reports.After reaching a cycle low of 62.9 percent in the second quarter of 2016, the homeownership rate appears to be stabilizing. The ownership rate, however, still remains way below the 27-year average rate of 66.1 percent.The homeownership rate increased among all age groups in the fir
Homeowners who sold in the first quarter realized an average price gain of $44,000 since purchase. That represents an average 24 percent of return on the purchase price, which is the highest average price gain for home sellers in terms of both dollars and percent returns since the third quarter of 2007, according to ATTOM Data Solutions’ First Quarter 2017 U.S. Home Sales Report.“The first quarter of 2017 was the most profitable time to be a
Today is Arbor Day, the perfect time to send clients information on landscaping that can boost their home’s value and reduce energy bills.The U.S. Forest Service Pacific Northwest Research Station says that planting a tree in front of a house increases the home’s sale price by an average of $7,130. So, in essence, money can grow on trees.Planting a tree on the west side of a home can reduce a home’s energy bills 3 percent within five years
A local REALTOR® association in Indiana is stepping up efforts to arm its members with safety tools and knowledge after a real estate agent in the town of South Bend was beaten and raped inside a vacant home last week. The agent, who has not been named, was taking interior photographs of a listing around 12:45 p.m. April 20 when a masked man came into the house and attacked her, according to police and media reports. The man fled the scene befor
Pending home sales took a slight dip last month due to a dearth of homes for sale, the National Association of REALTORS® reported Thursday. The South was the only major region of the U.S. to see an increase in contract signings last month.Despite last month’s national dip, pending home sales still remain elevated overall, posting the third best reading in the past year, according to NAR’s Pending Home Sales Index, a forward-looking indicator
The spring season can bring about dangers to a home from strong wind gusts, rains, and fluctuating temperatures. Be sure to take steps to protect your home this season.1. Check outside faucets and exteriors for flood risks.Inspect your outside hose faucets for any damage from the winter. Hold your thumb over the opening. If the flow stops completely, the pipe indoors could possibly be damaged and may need to be replaced. Also, check the hose for
The number of homeowners who are planning to take on home improvement projects or repairs this year is expected to increase 6.7 percent, according to the Joint Center for Housing Studies at Harvard University. As more owners look to remodel, they may be weighing how to fund their renovations.One-third of affluent homeowners—those who earn at least $100,000 a year—plan to use credit cards to pay for home renovation projects, according to a new
Baltimore, home to Johns Hopkins University, ranks as the top college town housing market where buying makes more financial sense than renting, according to a new analysis by realtor.com®. In Baltimore, the average monthly homeownership cost of $775 is more affordable than the average $1,443 monthly cost of renting.For its rankings, realtor.com® compared the average monthly rental costs to the average monthly home payment (including mortgage, p
James can be reached at:James Melton909-281-0425jmelton4re@icloud.comiPro Real Estate was founded on the idea of building a better living with champion service. We focus on incorporating and mastering the latest technologies and procedures keeping you above the crowd. Our team of professionals set a stronger standard of business, abide by a strict code of ethics and give superior service.We have the experience necessary to make your real estate
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